What is Banking as a Service (BaaS) and Why is It Important The term of inclusivity has been an effective concept in the finance industry since the stakeholders aim to offer as many and various services to their customers in order to keep them in their portfolio and prevent them switching into [...]
How Has Compliance Landscape Shaped in 2023? 2023 has been a year of challenges for the financial regulatory compliance landscape in the shadows of inflation fluctuations in the world, longstanding influence of the global pandemic, important developments and tensions in geopolitics, continuously increasing cost-of-living and fast-changing technological enhancements. In order to adapt [...]
What are the Financial Crime Trends in 2023? The acceleration of technological advancements has boosted the digitalization process of the financial industry at an unexpected pace. This has resulted in two different outcomes for the financial world. The overall financial services industry evolved and quickly adapted itself into the needs of the [...]
What are Payment Hubs and How to Navigate Them in 2023? In today's rapidly evolving global financial landscape, businesses are constantly seeking ways to reduce fragmentation, streamline their payment processes, enhance efficiency, ensure compliance and achieve a more unified approach towards the payments industry. Payment hubs have emerged as a pivotal solution [...]
Banking in the Metaverse: Navigating the Digital Frontier As technology keeps pushing the boundaries of what we once thought possible every day, the concept of the metaverse has emerged as a tantalizing notion. It's a digital realm where virtual and augmented reality coincide, offering a playground for creativity, social interaction, and trade. [...]
What Are the Fraud Trends in 2023? In our increasingly digital world, where technology continues to shape our daily lives, the realm of fraud has also evolved, adapting to the latest advancements. In 2023, with numerous advancements in the financial services world, new and sophisticated fraud trends are also emerging simultaneously, challenging [...]
Greylist Inclusions and Upcoming Projects Listed in FATF Plenary June 2023 On June 21-23, 2023 FATF had its third plenary meeting in Paris, France. The discussions in the plenary mainly focused on the measures for the anti-money laundering (AML) and the countering of terrorist financing (CFT) in Luxembourg, the additions to the Grey [...]
What is De-risking? What is De-risking? The FATF characterizes “de-risking” as the phenomenon of financial institutions terminating or restricting business relationships with clients or categories of clients to avoid, rather than manage, risk in line with the FATF’s risk-based approach. Today, correspondent banks use de-risking as a tool to mitigate their compliance [...]
Real-Time Payments in the United Arab Emirates In the era of rapid technological advancements, the United Arab Emirates (UAE) has positioned itself at the forefront of embracing real-time payments, revolutionizing the way of financial transactions are conducted in the country. The Central Bank of UAE (CBUAE) announced the Instant Payment Platform (IPP) [...]
African SWIFT Communities Forum African SWIFT Communities Forum will be held on 20-21 June 2023 in Casablanca, Morocco. Fineksus’ Sales&Business Development Director Serkan Arslan and Expert AML Analyst Çağatay Aksoy will provide the latest information on industrywide Regtech solutions in ‘’Best practices for transaction screening’’ session. Join us to learn more about how AI and Machine Learning [...]
